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Economist: identification and taxes levied reflected positively on the economic situation in Iraq
26/03/2015 12:27
BAGHDAD / Source News / .. Economic stressed Ali Jabbar Frejee, on Thursday, that the adoption of a new mechanism in the Iraqi trade market based taxation according to standardized tables, will benefit the economic situation in Iraq.
He Frejee, academic at Harvard University, in a press statement I followed Agency / Source News /, that "the approval of the Economic Committee of the Council of Ministers on a proposal of the Central Bank to accept issued by private banks to pay taxes and fees instruments, is a step towards building a balanced tax program does Banking Movement in Iraq, "he said," This program represents a transition process differs from its predecessors, well that would be a mechanism of action, which can identify money laundering and tax evasion and smuggling currency out operations. "
Frejee and called for "the application of this mechanism properly to support and develop systems and bank credits and guarantees from private banks, which were the basis of many overtaking on the tax system and currency smuggling operations, as well as support for binding electronic system in all the processes and procedures that punctuated this system, in addition to adopting tax approach and clear of all transactions and archives all imported materials within a system of customs tariffs. "
He added that "the Economic Committee of the Council of Ministers to include approval of the proposal to the central bank, to determine a time limit or starting a test process for this program for a certain period (six months or more) to study the obstacles that can be faced by this program."
He said, "One of the ingredients needed by this program to organize training courses include all Iraqi banks, businessmen and institutions that manage the border crossings to establish the first step to launch."
The Central Bank of Iraq, announced last Tuesday, for the approval of the Economic Committee of the Council of Ministers to accept the proposal issued by private banks to pay taxes and fees instruments, without a specific timeframe. / End Q
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